SEC Exemption Sparks Crypto Surge as Bitcoin Hits $80k

Crypto-related stocks surged on Friday as Bitcoin reclaimed the $80,000 level and investors responded to a new US regulatory framework for tokenized stocks.

The SEC's five-year exemption allows certain platforms to facilitate trading in blockchain-based or tokenized stocks and other securities without adhering to traditional rules.

Strategy (MSTR) gained about 12%, while MARA Holdings rose 9%. Coinbase Global surged 10%, Galaxy Digital and Circle Internet Group each gained 7% and 6% respectively, while Robinhood Markets added 7.5%.

The gains came after the SEC announced the exemption, which also covers certain liquidity providers who will receive a five-year exemption from dealer registration requirements.